Exciting new opportunities are up for grabs for manufacturers to innovate and expand in the Territory, with a new $7.5 million manufacturing fund opening today.
In partnership with the Advanced Manufacturing Growth Centre (AMGC) the Territory Labor Government has launched the Northern Territory Advanced Manufacturing Ecosystem Fund (AMEF).
Advanced manufacturing involves the use of innovative technologies to improve processes to create cutting edge products. The AMEF will accelerate the creation of advanced manufacturing businesses and increase competitiveness and capabilities across the Territory, expanding industries and creating more jobs for Territorians.
Delivering on the findings of the Economic Reconstruction's final report, businesses will be able to access dollar matched co-investment grants between $25,000 and $500,000 (or more based on scale and impact).
The fund will target projects that seek to:
· Grow an advanced manufacturing ecosystem across priority sectors
· Increase investment in advanced manufacturing activity
· Secure more advanced manufacturing jobs
· Commercialise new products and processes
· Support early-stage small scale and pilot research projects in advanced manufacturing
As part of Budget 2021, the Territory Labor Government invested $8.75 million into a five year partnership with AMGC to grow the Territory's manufacturing ecosystem, create jobs and broaden the Territory's economic base.
Eligible industries include food and agriculture, critical minerals, defence and security, medical and pharmaceutical, space, material recovery/recycling, energy, resources and technology, petrochemicals, construction, fabrication, digital, maritime and carbon reduction.
Projects may include pilots between industry and technology innovators, collaborations to implement targeted market development, and creating distribution pathways and supply chains.
Every project funded from the AMEF requires at least one local collaborator, being a local business, manufacturer, supplier in addition to a research institution.
To apply for the AMEF, please visit: [http://www.amgc.org.au].
Quotes from Chief Minister Michael Gunner:
"We are Australia's comeback capital, but we also want to be Australia's innovation capital.
"Advanced manufacturing will be a major jobs driver of the future, and this new partnership will provide local manufacturers with the ability to turn their dreams into realities.
"By building up the Territory capabilities in advanced manufacturing, we are expanding industries and export opportunities, and creating new and exciting job opportunities for Territorians and investors."
Quotes from AMGC NT Director Charmaine Barrett:
"The NT has significant opportunity to leverage its vast natural resources, research talent, and manufacturing base to grow its impact both locally and abroad.
"The launch of the Advanced Manufacturing Ecosystem Fund arrives at a time when public sentiment is high and the NT Government focus on the critical industry is strong, we look forward to getting to work and to helping build prosperity for Territorians."
Quotes from the Major Projects Commissioner Jason Schoolmeester:
"Collaboration between local businesses, industry leaders and research partners to test, trial and then scale manufacturing techniques and technology here in the Territory will grow local jobs, our industry capability and continue the Territory's transition into the economy of the future."
"The Territory has a proud history of smart innovation and the Advanced Manufacturing Ecosystem Fund provides an pathway for accessing co-investment to grow the jobs, skills and industry of tomorrow, today."
